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Kingsgrove Property Factsheet 2nd Half of 2018

In the
12 months prior to Q3 2018, the Kingsgrove property market saw median house
prices soften by -12.1% to $1,195,500 and unit prices strengthen by 4.7% to
$672,500. By comparison, annual (Q1 2017-Q1 2018) median price growth of 3.2%
(house) and -3.9% (units) was reported in the Kingsgrove 1st Half
2018 Research Factsheet. This suggests that houses in Kingsgrove have
recently increased in affordability while units have increased in value.

By
comparison, the combined Georges River, Canterbury – Bankstown, and Bayside
Local Government Area (LGA) experienced a softening in median house price, by
-18.3% to $980,000 over the 12 months to Q3 2018. The unit market also
experienced a softening, of -4.5% to $635,000. Compared to the LGA both house
and unit in Kingsgrove are premium markets based on entry price and are more
resilient markets based on capital price growth.

Rental
activity over the 12 months to Q3 2018 increased, with the number of properties
rented increasing by 50.0% (house) and 41.9% (units). Vacancy rates in
Kingsgrove were at a healthy 2.6% in June 2018, remaining slightly below the
Sydney Metro average of 2.7%. This indicates a healthy rental demand and ensure
positive investment opportunities in Kingsgrove.

Kingsgrove
is set to invest approximately $69.2M in future development in the 2nd
half of 2018, 85.7% of which is dedicated to commercial projects. A commercial
focus is important for Kingsgrove, as all planned additional property stock are
pure residential projects. Commercial projects will increase economic activity
in the area and support local job growth, providing sustainability in the future
economic growth of Kingsgrove.